1/ Record number of $ETH is in the unstaking queue:
671k $ETH = $3.2B USD
What's more, queue wait time reached record of ~12 days.
Why is it happening? A few reasons:
6/ Positioning for the upcoming ETH staking ETFs?
Pls inform me if/when ETH staking ETFs launch, will they use established infra like Lido or their own staking solutions?
In any case, there's a (small?) argument to put that unstaking is a preparation for ETH ETF launch.
DukeD | Defi
@DukeD_Defi
08-11
I was wrong about @LidoFinance
I used to believe Lido would be the biggest winner once ETH staking got ETF approval. But I was wrong, completely wrong.
It turns out Lido’s market share is quietly shrinking.
ETFs aren't choosing decentralized staking like $LDO. They’re
7/ And the absolute obvious one:
Profit taking after massive ETH rally.
I was lazy to investigate who is selling. But as long as DATs and ETFs are buying, it doesn't matter. They can absorb the selling.
And while unstaking queue is at ATH, so is the ETF inflows!
As always, let me know if I missed something.
You'll see a lot of FUD around the unstaking.
Just make sure to research on WHY it is really happening.
Good context below:
Level of high risk positions reaching ATHs
Ben Lilly
@MrBenLilly
278k wstETH at "high risk" according this dash. Defines high risk as health factor between 1-1.1x
Sector:
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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